Shares in Toshiba jumped 6 per cent in Tokyo on speculation that the Japanese electronics giant it is about to abandon its HD-DVD standard of next-generation DVDs.
Toshiba confirmed today that it is considering exiting the high-definition DVD business in the wake of a host of media reports that it is primed to concede defeat to Sony’s Blu-ray DVD format.
On Friday, Wal-Mart, the world’s largest retailer, announced that it would no longer stock Toshiba’s HD-DVD disks and players in favour of Blu-ray.
Reuters has reported that Toshiba is in the final stage of planning its exit, citing company sources.
Blu-ray, HD DVD and the phoney war
There is nothing more dull than a format war. How much should we really care about prettier TV pictures anyway?
Related Links
* Toshiba risks defeat against Sony's Blu-ray
* Paramount’s switch to Blu-ray could end HD DVD
* Blu-Ray takes inside edge in war with HD-DVD
Confirmation of the HD-DVD format review – alongside news that Toshiba will build two new NAND flash memory plants – was welcomed by investors. Toshiba’s shares were trading 5.7 per cent higher at 829 yen (£3.29) after the news.
The “Wal-Mart effect” and a series of crushing setbacks in Hollywood have left Toshiba facing defeat in its format war with Sony for domination of home entertainment.
A possible decision by Toshiba to pull out of its HD-DVD standard of next-generation DVDs would effectively end the battle with Sony’s Blu-ray discs after only a year of serious retail competition.
Paramount remains the largest of the big American studios still loyal to the HD-DVD format, but members of the HD-DVD consortium, which is the 135-strong corporate alliance formed to promote the Toshiba format of next-generation DVDs, told The Times that they expected the group’s “total collapse” within the next few weeks.
Toshiba’s expected withdrawal will leave millions of consumers around the world as disappointed backers of a “dead format” — with fledgeling high definition film collections on HD-DVD that will now expand no further.
The decision will also deal heavy blows to the largest corporate backers of HD-DVD, particularly Microsoft. The software giant, which competes directly with Sony in games consoles, has been the staunchest defender of the Toshiba format.
Toshiba is understood to have poured more than $2 billion (£1 billion) into developing and promoting HD-DVD, a figure thought to include the cost of offering sweeteners to various Hollywood studios for exclusivity agreements on content.
— Microsoft will announce a deal with Paramount today to supply high- definition films on demand for users of its Xbox 360 games console. The service, which will go live in the UK and Ireland tomorrow evening, allows owners of Xbox 360 consoles with high-speed internet connections to rent selected Paramount releases at a cost of around £2 for DVD standard films or £3.20 for high-definition.
The rental terms are “14:24” — the customer can view the film for 14 days, but once viewing starts it must be completed within 24 hours. At the end of the rental term the film deletes itself from the Xbox 360’s built-in hard drive. Paramount is the second big studio to join the Xbox Live distribution network after Warner Brothers.
Monday, February 18, 2008
PM forced to defend Rock nationalisation plan
he Prime Minister was today forced to defend his decision to nationalise a high street bank for the first time in the modern era, claiming that the Government had saved investors from losing millions.
As shares in Northern Rock were suspended on the London Stock Exchange - and the threat of legal action by thousands of the company's shareholders loomed - Gordon Brown pledged to his monthly press conference that the Government intended to return the bank to the private sector once market conditions improve.
Flanked by Alistair Darling, the Chancellor, the Prime Minister said that agreeing to guarantee the bank's deposits last year had prevented it from going under, saving investors from losing their savings.
"We will, and always have, put the interests of taxpayers first," Mr Brown said, facing a barrage of questions at Downing Street.
Expert View
Philip Webster
Opening quote Nationalisation evokes memories of the days when Labour was pursuing policies that were to make it unelectable Closing quote
Philip Webster, Political Editor of The Times
* More
* Post a comment
Related Links
* Ghost of old Labour held inevitable at bay
* Absolutely, incredibly, utterly wrong!
* Gordon Brown defends London's reputation after Northern Rock crisis
Multimedia
* Video briefing: Northern Rock nationalisation
* Red Box: did Cable stop Branson's bid?
"If we hadn't intervened in August it would have gone under. We ensured an existence for the company. It was the best decision to protect depositors, mortgages holders and employees of Northern Rock."
However, Mr Brown added that he was right to hesitate for several months before nationalising it, claiming that examining all private sector bids - including from Richard Branson's Virgin Money - was the right thing to do, but that no potential investor had provided value for money to the taxpayer.
"Given that both bids that came forward involved a subsidy from Government without an appropriate level of return for taxpayers, after detailed consideration and independent advice, the Chancellor concluded that the right decision is to hold Northern Rock in temporary public ownership, to be run at arms length from the Government under professional management until market conditions change," Mr Brown said.
"The soft option would have been taking the easy road out and putting it into the new private sector bidders. The long-term question was what was the best interests of the taxpayer."
Adding that Northern Rock would be returned to the private sector as soon as possible, but refusing to give any timescale for this to happen, the Prime Minister added: "The option ahead of us is to see the market conditions improve, to see the restructuring of the company take place, and then to get the best deal for the taxpayers. There is no serious opinion out there at the moment which suggests that this is the wrong thing to do."
Mr Darling, who is set to face a rough ride when announcing emergency legislation to the Commons at 3.30pm today, emphasised that Northern Rock would have collapsed had ministers not acted last year to guarantee investors' deposits, stopping a public run on the bank lasting several days.
"This is a bank where, had the Government not intervened ... it would have failed because it had run out of money. We not only have to be fair to shareholders, but also to taxpayers," he said.
In a round of media interviews this morning, Mr Darling insisted that the decision to reject bids from Virgin Money and a management buyout had been taken to protect taxpayers’ interests.
As shares in Northern Rock were suspended on the London Stock Exchange - and the threat of legal action by thousands of the company's shareholders loomed - Gordon Brown pledged to his monthly press conference that the Government intended to return the bank to the private sector once market conditions improve.
Flanked by Alistair Darling, the Chancellor, the Prime Minister said that agreeing to guarantee the bank's deposits last year had prevented it from going under, saving investors from losing their savings.
"We will, and always have, put the interests of taxpayers first," Mr Brown said, facing a barrage of questions at Downing Street.
Expert View
Philip Webster
Opening quote Nationalisation evokes memories of the days when Labour was pursuing policies that were to make it unelectable Closing quote
Philip Webster, Political Editor of The Times
* More
* Post a comment
Related Links
* Ghost of old Labour held inevitable at bay
* Absolutely, incredibly, utterly wrong!
* Gordon Brown defends London's reputation after Northern Rock crisis
Multimedia
* Video briefing: Northern Rock nationalisation
* Red Box: did Cable stop Branson's bid?
"If we hadn't intervened in August it would have gone under. We ensured an existence for the company. It was the best decision to protect depositors, mortgages holders and employees of Northern Rock."
However, Mr Brown added that he was right to hesitate for several months before nationalising it, claiming that examining all private sector bids - including from Richard Branson's Virgin Money - was the right thing to do, but that no potential investor had provided value for money to the taxpayer.
"Given that both bids that came forward involved a subsidy from Government without an appropriate level of return for taxpayers, after detailed consideration and independent advice, the Chancellor concluded that the right decision is to hold Northern Rock in temporary public ownership, to be run at arms length from the Government under professional management until market conditions change," Mr Brown said.
"The soft option would have been taking the easy road out and putting it into the new private sector bidders. The long-term question was what was the best interests of the taxpayer."
Adding that Northern Rock would be returned to the private sector as soon as possible, but refusing to give any timescale for this to happen, the Prime Minister added: "The option ahead of us is to see the market conditions improve, to see the restructuring of the company take place, and then to get the best deal for the taxpayers. There is no serious opinion out there at the moment which suggests that this is the wrong thing to do."
Mr Darling, who is set to face a rough ride when announcing emergency legislation to the Commons at 3.30pm today, emphasised that Northern Rock would have collapsed had ministers not acted last year to guarantee investors' deposits, stopping a public run on the bank lasting several days.
"This is a bank where, had the Government not intervened ... it would have failed because it had run out of money. We not only have to be fair to shareholders, but also to taxpayers," he said.
In a round of media interviews this morning, Mr Darling insisted that the decision to reject bids from Virgin Money and a management buyout had been taken to protect taxpayers’ interests.
Sunday, February 17, 2008
HULK HOGAN
HULK HOGAN is just days away from launching his own wrestling federation, The Sun can exclusively reveal.
The legendary former WWE champion claims he and ex-WCW supremo Eric Bischoff are currently in discussions to take on his old boss Vince McMahon head-to-head.
He revealed: “Last night me and Eric were getting ready to sign a deal with one of the TV networks here in America.
“We had a little bit of a problem with the licensing and merchandising, which has delayed it.
“But I totally expect we’re going to sign the TV portion of this very soon, because there’s no point in starting any sort of wrestling organisation without the TV locked in place.
“Now we’re just arguing among the lawyers on how to protect the brand and the image and make sure it’s a fair deal for everybody.
“Once we’ve wrapped the TV up we’ll make the official announcement. The network want to make a really big deal of it.”
Hulk added: “The basic idea will be the same as WWE, but I pray to god it’s nothing like what’s on TV now.
“I’m a fan, but it is pretty boring programming. It’s watered down and unexciting, and the viewer doesn’t have any option except to have it shoved down his throat.
“We’re going to have a lot of back story for viewers to understand why these people are doing what they're doing.
“It won’t be family members in the back writing storylines on things they know nothing about.”
Hogan does face one massive hurdle in building his own wrestling group – most of America’s top grapplers are already under contract to WWE, TNA or ROH.
The legendary former WWE champion claims he and ex-WCW supremo Eric Bischoff are currently in discussions to take on his old boss Vince McMahon head-to-head.
He revealed: “Last night me and Eric were getting ready to sign a deal with one of the TV networks here in America.
“We had a little bit of a problem with the licensing and merchandising, which has delayed it.
“But I totally expect we’re going to sign the TV portion of this very soon, because there’s no point in starting any sort of wrestling organisation without the TV locked in place.
“Now we’re just arguing among the lawyers on how to protect the brand and the image and make sure it’s a fair deal for everybody.
“Once we’ve wrapped the TV up we’ll make the official announcement. The network want to make a really big deal of it.”
Hulk added: “The basic idea will be the same as WWE, but I pray to god it’s nothing like what’s on TV now.
“I’m a fan, but it is pretty boring programming. It’s watered down and unexciting, and the viewer doesn’t have any option except to have it shoved down his throat.
“We’re going to have a lot of back story for viewers to understand why these people are doing what they're doing.
“It won’t be family members in the back writing storylines on things they know nothing about.”
Hogan does face one massive hurdle in building his own wrestling group – most of America’s top grapplers are already under contract to WWE, TNA or ROH.
MIDDLESBROUGH vs Sheff UTD 0 - 0
MIDDLESBROUGH came close to being the latest big-name casualty in the FA Cup.
Sheffield United hitman James Beattie hit the post in first-half stoppage time in the game's best chance.
But neither side could break the deadlock — and new Blades boss Kevin Blackwell will now take his team to the Riverside for a replay on February 26.
United started brightly as they looked for a Premier League scalp for the third successive round.
Matt Kilgallon warmed the fingers of Mark Schwarzer in the fifth minute with a half-volley.
The Blades were then denied a clear penalty when Billy Sharp's shot struck the arm of Fabio Rochemback but referee Chris Foy was unmoved.
The home side should have taken the lead in the 27th minute when Jon Stead rose highest in a crowd of Boro players, only to plant his seven-yard header fractionally wide.
Neither side could muster another chance before United came within a whisker of snatching the lead on the stroke of half-time.
Julio Arca's clumsy foul on Stephen Quinn gave United a free-kick on the edge of the box and Beattie stepped up to strike the outside of the left-hand post.
Chances were rare in the second half and neither side will be particularly pleased with a replay given their lowly positions in their respective divisions.
Emmanuel Pogatetz should have won it with a point-blank header in injury-time but it was cleared to safety by United.
Offshop to police big stores
BRITAIN’S supermarkets are to have a watchdog to keep them in check, it was confirmed last night.
An ombudsman – nicknamed Offshop – will get the power to hand out fines if supermarkets use their size to force down prices paid to suppliers.
The Competition Commission recommended a tougher code of practice.
It said local authorities should have greater powers when making planning decisions involving new, large grocery stores.
But it said councils should only block developments if one supermarket is too powerful in the area.
Asda welcomed the findings, while Tesco dismissed the watchdog as “unnecessary red tape”.
The Association of Convenience Stores, which represents 33,000 local shops, said the Commission did not “go far enough”.
Man Utd 4 Arsenal 0
MANCHESTER UNITED produced a masterclass in football to dump arch rivals Arsenal out of the FA Cup.
The Gunners may top the Premier League but they were outclassed in a fiery clash at Old Trafford.
Darren Fletcher bagged a double with Wayne Rooney and Nani also netting as United eased into the quarter-finals.
United boss Alex Ferguson was delighted with the performance after last week's derby defeat to Man City.
He said: “It was a really fantastic performance.
"The players looked great. They showed tenacity and the passing was terrific.
“They were so disappointed with themselves on a really important day last week.
"I think all the emotions of the week probably caught up with them.
“But today they’ve made amends for that with a marvellous performance.”
United had started brightly and Anderson cracked in a volley that Jens Lehmann saved before the breakthrough arrived in the 16th minute
Anderson flicked on Nani's corner and Rooney headed home for his 11th goal of the season.
And the hosts doubled their lead just three minutes later.
Nani chipped the ball into the area and Fletcher marked his first start in two months by heading past Lehmann.
It was all United at this stage with Arsenal looking lethargic and out of sorts.
Rooney clipped wide of the post — but the third goal arrived in the 38th minute.
Michael Carrick's superb ball found Nani, who skipped past Hoyte to score with a low drive into the corner.
Arsenal's woes got worse after the break when Emmanuel Eboue was sent off for a clumsy challenge on Patrice Evra.
Eboue refused to accept the decision and questioned the decision before being led away down the touchline.
Fletcher made it four in the 74th minute when he headed in at the far post from Nani's delivery.
Man Utd: Van der Sar, Brown, Ferdinand, Vidic, Evra, Fletcher, Carrick, Anderson (Scholes 72), Park, Rooney (Saha 71), Nani Subs Not Used: Kuszczak, O’Shea, Tevez.
Booked: Ferdinand, Rooney, Fletcher.
Arsenal: Lehmann, Justin Hoyte, Gallas, Toure, Traore, Eboue, Fabregas (Flamini 70), Silva, Hleb (Adebayor 70), Eduardo (Senderos 71), Bendtner. Subs Not Used: Fabianski, Clichy.
Sent Off: Eboue (49).
Booked: Eduardo, Silva, Adebayor.
Att: 76,000
Ref: Alan Wiley (Staffordshire).
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